Economic Growth to Record About 4% in 2017

May 11, 20171,057 Views

According to the forecast by National Bank of Georgia (NBG), this year economic growth will be about 4%, the NBG monetary policy report for May reads.

“Net exports is expected to make an unimportant, but positive contribution to the 2017 GDP growth. After neutralization of external difficulties, net exports is expected to go better at moderate paces and make a little, but positive contribution to the 2017 real GDP growth. In previous years complicated political and economic situation in the region was making negative affect on net exports. Negative portion in net exports was driven by fiscal stimulus and increased consumption.

However, negative affect of the mentioned factors was neutralized by comparatively lower prices in important commodity groups on global markets, as compared to 2014, and by revision of real effective exchange rate”, the report reads.
According to the EBRD report on Regional Economic Perspectives, Georgia’s economic growth will be 3.9% in 2017 and 4.2% in 2018.